Methodology: The national average credit card APR is comprised of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category listed above. Introductory, or teaser, rates are not included in the calculation.

Average rates on new credit card offers didn't budge this
week, according to the CreditCards.com Weekly Credit Card Rate Report.

The national average annual percentage rate (APR) remained
at 15.01 percent Wednesday for the third consecutive week.

Interest rates on cash-back credit cards inched up slightly
this week to 14.91 percent. However, that was due to a reshuffling of the
CreditCards.com database, rather than a rate change. Bank of America removed
the BankAmericard Privileges card from its website, so CreditCards.com replaced
it in the database with another rewards credit card.

Most issuers tracked by CreditCards.com left credit card
terms alone this week. Bank of America eliminated the 0 percent balance
transfer offer on the MLB BankAmericard. However, it left the sports rewards
card's 0 percent offer on purchases intact. Major League Baseball fans still
have 12 months to make interest-free purchases.

Promotional offers on
the rise
Despite nixing the balance transfer offer on one of its
rewards cards, Bank of America continues to rely heavily on 0 percent
promotional offers to lure new customers. So do most other credit card issuers,
according to an analysis by the financial services firm Credit Suisse.

Analyzing data from the market research firm Mintel
Comperemedia, Credit Suisse found 0 percent promotional offers are
becoming increasingly popular with credit card issuers. For example, in April
of 2014, issuers mailed 279 million credit card offers featuring a 0 percent
APR on purchases -- up from 254 million offers the year before.

Issuers also mailed substantially more offers with a 0
percent balance transfer promotion. For example, among the 342 million offers issuers sent in April, 269 million (79 percent) contained a 0 percent
balance transfer offer. That's up from 194 million offers in April 2013.

In addition to sending out more offers containing at least
some type of 0 percent promotion, issuers are once again lengthening the amount
of time consumers have to take advantage of an offer, after trimming them sharply
earlier this year. For example, in April 2014, the typical balance transfer
period rose to an average of 16.5 months, according to Credit Suisse -- up from
an average of 14.2 months in March.

Analysts at Credit
Suisse predict issuers will continue to rely heavily on 0 percent APRs for
some time. However, the amount of time new consumers have to take advantage of
these offers could vary considerably.

Since January 2011, for example, the typical balance
transfer period on offers has oscillated sharply from month to month. Most of the time,
the average balance transfer period has hovered between 14 months and 20
months, on average. However, it has bounced up and down significantly from
month to month.

During one particularly competitive period in 2012, the
average balance transfer period shot up to an average of 24 months before
falling back down to just over 14 months the following month. The average
balance transfer length hasn't risen above 20 months since July 2013.

Competition continues
to increase
Analysts keep a close watch on credit card mailings in order
to get a sense of how fiercely card issuers are competing for new customers.

When the total number of credit card mailings goes up, that
typically means credit card issuers are pouring more resources into netting new
cardholders and edging out the competition. When competition between issuers
increases, cardholders frequently see better offers in their mailboxes,
including more enticing terms and promotions.

Since 2013, the number of offers issuers mail to
potential cardholders has increased substantially. In April 2014, for example, issuers mailed 9 percent more
card offers than they mailed the previous month and 8 percent more card offers
than they mailed the previous year.

That's especially significant considering that issuers
typically mail slightly fewer card offers in April than they do in other
months, according to Credit Suisse. "Mailings are seasonally 5 percent lower,
month-over-month in April," wrote Credit Suisse in a May 20 report.

As the year goes on, analysts predict that credit card
offers will become even more ubiquitous than they are now. For example, by the
end of 2014, analysts at Credit Suisse project that card issuers will have
mailed 4.9 million offers to consumers' homes. If Credit Suisse's prediction
holds true, that will be the largest number of offers issuers have mailed since
2008.

The increases indicate to analysts
that card issuers are becoming increasingly hungry for new applicants.
That
could mean that cardholders will continue to see more generous
promotions in
the future -- and that people with good credit have reason to bargain
hunt for new credit cards or room to negotiate with their existing
issuer.

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on this site are from companies from which CreditCards.com receives compensation. This compensation may impact how
and where products appear on this site, including, for example, the order in which they appear within listing categories.
Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact
how and where products appear on the site. CreditCards.com does not include the entire universe of available financial
or credit offers.

Advertiser Disclosure

CreditCards.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which CreditCards.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. CreditCards.com does not include the entire universe of available financial or credit offers.